Any capital asset held by a person for a period of more than 36 months immediately preceding the date of its transfer will be treated as a long-term capital asset.
However, in respect of certain assets like shares (equity or preference) which are listed in a recognised stock exchange in India, units of equity oriented mutual funds, listed securities like debentures and Government securities, Units of UTI and Zero Coupon Bonds, the period of holding to be considered is 12 months instead of 36 months.
In case of unlisted shares in a company, the period of holding to be considered is 24 months instead of 36 months.
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|Asked: 4/3/19, 1:57 AM|
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|Last updated: 4/3/19, 2:02 AM|